NOBEL laureate economist and head of the National Economy Council Professor Sir Christopher Pissarides said last night the situation in the eurozone had become very unsatisfactory and that the single currency should either be rescued by rapidly making it more growth and employment friendly or be dismantled...(...more)

ALMOST everyone surveyed in the latest Eurobarometer report on Cyprus believes the economy is in ‘bad’ or ‘very bad’ shape but there was that 3.0 per cent who thought it was ‘good’ or ‘very good’.
The survey was conducted on behalf of the European Commission from November 2 to 17 using personal interviews...(...more)

The office of the European Parliament in Nicosia is launching a campaign in view of the EP elections to take place May 25th. The aim is to get all Cypriot citizens to vote and not to abstain.

The Cyprus office organized Saturday an event in Nicosia, with the participation of the FM, the G/C negotiator, the Cypriot MEPs, political leaders, MPs and various organizations and institutions, in order to gain attention for the elections...(...more)

THE Pancyprian food collection campaign, under the name “Dynami Kyprion”, was completed successfully, Hermes airports announced on Monday.
“The campaign which lasted for about a month was the first significant public-private partnership in the context of a charity effort aimed at collecting food supplies for our fellow citizens in need of support,” Hermes airports said...(...more)

Following the March 2013 banking crisis in the Republic of Cyprus, when millions of euros in customer savings were written off by the country’s two largest banks, the economy took a bashing.
As a result of a €10 billion European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) bail-out, austerity measures resulted in pay freezes, unemployment and inevitable hardship...(...more)

Over the course of the next seven years (2014 to 2020), Cyprus may raise some €80m from the auctioning off of carbon credits, minister of agriculture and the environment Nicos Kouyialis said yesterday.
The proceeds would come from selling surplus carbon allowances, or credits, to other EU countries given that Cyprus would remain below its emissions quota, said Kouyialis...(...more)

Sir Stelios Haji-Ioannou and Sir Christopher Pissarides have been added as Honorary Founding Patrons of the UK-Cyprus Enterprise Council, along with the Cyprus High Commissioner to the United Kingdom Euripides Evriviades.

The Council’s establishment was announced ten day ago by its Board Chairman Peter Droussiotis, who said he was “delighted that two of the most prominent British Cypriots, as well as HE the Cyprus High Commissioner to the UK have lent their names to this initiative as Honorary Founding Patrons...(...more)

Cyprus's efforts to extricate itself from its massive debt could weigh on output for the next decade, the IMF warned on Monday, in a review in which it said the island was well on track in its economic adjustment program.

The Mediterranean island nation is following a three-year austerity program after it almost went bankrupt in March...(...more)

Cyprus faces a decade of near slump conditions and debt deleveraging with no guarantee of success at the end as it tries to claw back competitiveness within Europe's monetary union, the International Monetary Fund has warned.
The unemployment rate will jump to 19...(...more)

Unemployment among the labour force stood at 16.2% in Cyprus for the third quarter of 2013, up by 0.7% in relation to the corresponding quarter of 2012, data released on Monday by the Cyprus Statistical Service show.
At the same time youth unemployment between people aged 15 to 24 was recorded at 38...(...more)